London shares weaker midday; NY seen lower; commodities down as prices retreat (AFX)

LONDON (Thomson Financial) - London shares remained weaker midday as Wall Street is seen opening lower with commodity stocks in the doldrums after oil and metal prices retreated and Scottish & Southern Energy fell back after disappointing earnings news. At 11.48 a.m., the FTSE 100 index was 38.1 points weaker at 5,411.8, off a low of 5,390.9, while the FTSE 250 was down 134.9 points at 9,054.8. In the U.S., Wall Street is looking at a lower open ahead of home sales figures which are likely to show sales falling in June after a slight rebound in May as well as jobless claims. Spread bettors, IG Index see the DJIA index opening around 50 points lower at 11,586. Turning to the UK bluechips, commodity stocks remained in the doldrums as oil and metal prices fell back. BG Group (LSE: BG.L - news) was off 61 at 1,079, as it said it... [read full story]